secwatch.observer — SEC 8-K summary
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Issuer:     WASHINGTON TRUST BANCORP INC (WASH)
CIK:        0000737468
Form:       8-K
Filed at:   2023-09-27T23:59:59+00:00
Accession:  0000737468-23-000041
Event type: regulatory
Sentiment:  neutral
Materiality: 0.55
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Washington Trust settles DOJ fair lending probe; to provide $7M in loan subsidies, $2M outreach
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- Settlement resolves DOJ allegations of fair lending violations in RI from 2016-2021 without civil penalties.
- Washington Trust to provide $7M in mortgage loan subsidies and $2M for community outreach over five years.
- Company to open two full-service branches in specific RI census tracts, including previously announced Olneyville branch.
- Washington Trust vehemently denies allegations, settled to avoid litigation expense.
- Settlement subject to U.S. District Court for Rhode Island approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/737468/000073746823000041/0000737468-23-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/737468/000073746823000041/wash-20230927.htm
  HTML page:      https://secwatch.observer/filing/0000737468-23-000041

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer